There is no way to know for sure, but if a similar gold confiscation happens, you might want to get your hands on some pre-1933 gold coins. That’s right, these coins were actually minted during the Gold Standard era, which means they’re a great hedge against a confiscation.
Owning gold, art, jewelry, etc. was forbidden in the old Soviet Union
It’s no secret that gold was a big deal in the Soviet Union, especially during the early days of its existence. Gold was not only considered the ultimate spiritual symbol, but was also a store of value thanks to its ease of assaying. This is why it was not allowed to be privately used in soviet jewelry production in large numbers, even if the quality of the finished product was often subpar.
However, the gold was not the only metal in the ring. Jewelry of other colors was also produced, particularly in the USSR. The most popular choice was rose 14 karat gold, although other metals were available.
While the old Soviet Union permitted private possession of limited amounts of currency, the “gold” was actually in the hands of local administration officials. During the early days of the Soviet Union, Jews were able to acquire valuables through their own efforts.
Benito Mussolini’s “Gold for the Fatherland” initiative
In 1935, Benito Mussolini began the “Gold for the Fatherland” initiative. The initiative encouraged Italian citizens to donate jewelry and gold to the government. During its first year, about 35 tonnes of jewelry and gold were collected. These were distributed to national banks.
Mussolini used propaganda and pageantry to inspire his nation. He had support from a variety of political spectrums in Italy.
After the war, Mussolini opted for a one-party dictatorship. He wanted to place all Italians in professional organizations. His plan involved land reclamation and economic development.
However, Mussolini’s anti-communism and nationalism grew into an ideology that he used to gain power. He also exploited the postwar depression. He also used his secret police to intimidate his opposition.
Mussolini’s anti-socialist and fascist philosophies were not popular with the opposition. But the opposition was not able to distance itself from Mussolini.
Pre-1933 gold coins are an important hedge
Pre-1933 gold coins are collectibles that are not only fun to own but are also beneficial in the long term. They are a great way to increase your portfolio’s cash flow while providing some numismatic value.
Unlike today’s bullion products, the value of pre-1933 gold coins is usually less volatile. This makes it a good choice for investors who want to hedge their investments but not their nerves.
When you are investing in gold, it is important to consider how much of it you are going to use for regular transactions. In some cases, you can purchase larger bars that are easier to carry. However, these can be more expensive than their smaller cousins.
During the Great Depression, many countries tried to preserve their gold stocks by raising interest rates, mentioned by IRA Companies Gold. This was an effective way to entice investors to maintain their deposits.
Modern gold confiscation is unlikely
The prospect of gold confiscation is a reasonable concern for those who are concerned about runaway government spending and the unsustainable nature of debt. However, it is unlikely that it will happen. There are several reasons for this.
First, there are not as many gold confiscations as there used to be. Second, the United States no longer uses the gold standard. This means that the country cannot adjust its own gold prices. Therefore, a gold confiscation would have no effect on deflation. Third, the United States no longer has the capacity to print money at will.
While gold is not an integral part of the monetary system today, governments can still confiscate it. During World War II, most European nations nationalized the possession of citizens’ gold. But, there were some exceptions to the policy.